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United States Falls Out of Top 10 Wealthiest Countries List

For the first time, the United States is out of the top 10 of the Legatum Prosperity Index‘s wealthiest countries in the world, as Norway tops the list for the fifth year running.

The U.S. is now in 12th place, reports the Daily Mail, as Norway has again been crowned the most prosperous country in the world.

Scandinavian countries remain at the top of the global list, which rules countries on their economy, education, governance, health, safety and security, social capital and entrepreneurship. Norway, Denmark and Sweden top the list, which showed overall prosperity has risen, with the Netherlands, Ireland and Germany climbing into eighth, 10th and 14th places.

Several so-called Asian “Tiger Cub” countries, such as Vietnam, Thailand, Malaysia and Indonesia all performed well, edging closer to larger Asian locations such as Hong Kong, Singapore and Taiwan.

Jeffrey Gedmin, president and chief executive of the Legatum Institute said the survey allows it to see what works in making a country successful.

We believe that by measuring the quality of education, healthcare, social capital and opportunity, our Prosperity Index gives the clearest view of how countries are prospering today and how they are likely to prosper in the future.